Monte Nero expands tanker play with LR2 order in China
Monte Nero Maritime Orders Two LR2 Product Tankers from Hengli Shipbuilding
Greek shipping company Monte Nero Maritime has made a significant move in the newbuilding market by securing contracts for two LR2 product tankers at Hengli Shipbuilding, a rapidly growing shipyard in China. This announcement was made public in a regulatory filing by Songfa Ceramics, the Shanghai-listed parent company of Hengli Shipbuilding, over the weekend. The contracts involve the construction of two 114,000 deadweight tonnage (dwt) LR2 product tankers, ordered by a single-purpose company under the Monte Nero Holdings umbrella.
The financial details of the contracts indicate a value ranging from $100 million to $200 million. The two vessels are scheduled for delivery in the first half of 2027, marking a strategic addition to Monte Nero’s fleet. This order not only highlights the ongoing activity of Greek interests in the newbuilding sector but also reflects the growing reputation of Hengli Shipbuilding as a preferred choice for international shipowners.
Expanding Fleet and Market Confidence
The recent order is part of Monte Nero’s broader strategy to expand its fleet. The Athens-based company has been particularly active in the MR2 segment, having previously booked several product tanker newbuildings at other Chinese shipyards, including COSCO Shipping Heavy Industries and Huanghai Shipbuilding. With the latest LR2 order, Monte Nero is stepping up its game by investing in larger product tonnage, which underscores its confidence in the clean tanker market.
Hengli Shipbuilding’s ability to attract business from both international and domestic owners is evident in its expanding order book. The Dalian-based yard continues to solidify its position in the global shipbuilding industry, particularly among Greek owners who are increasingly turning to Chinese yards for newbuilding demands. This trend not only reflects the competitive pricing and quality of Chinese shipyards but also indicates a shift in the market dynamics of the maritime industry.
As Monte Nero Maritime continues to grow its fleet, the partnership with Hengli Shipbuilding is poised to enhance its operational capabilities in the clean tanker sector. The strategic decision to invest in LR2 product tankers aligns with the company’s long-term vision and commitment to meeting the evolving demands of the shipping market.
